One of the best ways to protect your assets in Panama is a private interest foundation. This is an institution that effectively holds and protects the entity of the assets. You need to get an overview of how the entity works and how you can set up one. You should consult a professional for all legal matters to maintain a Panama Foundation. It is better to deal with a person who understands your requirements and your language. Make sure that you understand each and every step of the process.
The cost of the private interest foundation is about $300 annually which has to be given to the government. The minimum capital investment required is $10,000 and the attorney cost set up is less than $2,000. These are just the typical costs involved. Part of this payment goes to the government and part to the attorney. In case you feel that the prices quoted to you are high then don’t be afraid to go on the internet and do the comparisons.
You can make use of the Panama foundation as a holding entity for your assets. However overseas assets are not taxed in Panama. The tax relates to those matters where the foundation owns a business in Panama. In such a case the foundation will not be taxed but the business will be taxed. The foundation will receive post tax dollars from business. You can consider joining a foundation with an offshore corporation which could be in Panama or elsewhere.
The foundation can hold assets anywhere in the world. This could includereal estate, companies, personal assets, royalty rights, bonds, stocks and bank accounts. The assets can be frozen only in case the foundation does something illegal. The foundation should be ideally used as a holding company. the foundation cannot do any commercial activities in Panama.